Europe

Ex-Nama employee's transaction is investigated

A transaction made by a former employee of the Irish government's National Asset Management Agency who bought a property from the agency's portfolio is reportedly being investigated.

The Sunday Times reported that Nama has requested its internal auditors, Deloitte, to investigate.

The newspaper said the auditors are to assess if the full statutory and disclosure requirements were met.

Nama said the employee was not involved in approving the transaction.

It also said an initial review and independent valuations showed the property's price was in line with the then market value.

Nama said all employees were required to make full disclosures of their assets, liabilities and interests under legislation governing the body.

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